Bitcoin is slowly but surely establishing itself as a payment system. The cryptocurrency has officially been recognized as a legal method of payment in Japan and many businesses around the world are already using it for their daily transactions. There is not doubt its significance can no longer be ignored. But the virtual currency is not regulated by a central bank. The price of bitcoin at any given moment is the product of people’s attitude and expectations towards it, which makes it extremely volatile. That is why we think Elliott Wave analysis is the right tool for the job, when analyzing and predicting it.
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Elliott Wave Ahead of Bitcoin ‘s Goldman-Inspired Crash

Bitcoin was trading above $7400 on Wednesday morning, following a recovery from as low as $5880. Crypto investors hoped the rally will continue, but they could not predict that just a few hours later Goldman Sachs will say it is abandoning its plans to establish a cryptocurrency trading desk, citing the ambiguous regulatory environment as…

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Bitcoin and BitMEX Trading Halt in Elliott Wave Context

Bitcoin shot up by over $400 in as little as 20 minutes today in a move some crypto experts attributed to a short squeeze during BitMEX’s scheduled maintenance. Unfortunately, BitMEX’s trading halt can explain the surge only in hindsight, which means even crypto experts did not expect it. For example, Don Le, CEO of ChainRock…

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Another Week, Another Bitcoin Bloodbath

Another week, another bloodbath for Bitcoin. The largest cryptocurrency climbed to $6815 on Monday, but the bulls quickly lost control and suffered a sharp plunge to $6072 four days later on Thursday. And while bullish predictions by crypto “experts” still call for $60 000 by the end of the year or $280 000 by 2023,…

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Bitcoin Falls Because of a 13th Century Mathematician

The price of Bitcoin, the largest cryptocurrency out there,  just fell to its lowest level since the start of the year. The previous major low of $5920, registered in early-February, has finally been breached. BTCUSD is currently hovering around $5850, which brings its total loss for the week to 9.3%. But why is Bitcoin crashing…

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Four Days Ahead of Bitcoin’s “Red Sunday”

Bitcoin is plunging yet again. Following a small recovery from $7027 to $7791 in the first week of the month, BTCUSD just breached the support of $7200 and still seems to be in a downward spiral from its December 2017 high of $19 666. But let’s ignore the bubble-or-not-a-bubble talk for a moment and concentrate…

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EOS Crypto Bulls Ready for a New Record High

In just two short weeks, EOS – the fifth largest cryptocurrency by market capitalization – fell from an all-time high of $23.03 to as low as $12.05, losing almost 48% of its value. As the price of EOS is approaching the $15 mark now, traders are wondering what to expect from now on – more weakness…

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Bitcoin: UpBit Fraud Scandal Just a Catalyst

After the price of Bitcoin rose twenty-fold in 2017, the majority of crypto investors were expecting even bigger gains in 2018 as the digital currency was finally entering the mainstream. Alas, so far that is not the case as BTCUSD plunged by roughly 70% in just a month and a half. But instead of going…

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Dash Traders Setting Their Sights on $550 a Coin

In less than four months, between December 20th 2017 and April 6th 2018, Dashcoin fell from an all-time high of $1550 to as low as $287, losing over 81% in market value. Fortunately, the month of April has been more generous, allowing the bulls to take a breather and lift Dash prices to $544 by…

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Ripple Bulls Finally Ready to Conquer $1 Again?

The cryptocurrency crash of the first three months of 2018 did not spare anyone. Most virtual currencies lost between 60% and 80% of their market capitalization and Ripple, which was briefly the second largest after Bitcoin, plunged as well. Between January 4th and April 1st, XRPUSD fell from its all-time high of $3.3170 to as…

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Bitcoin Crashes. Is the SEC to Blame?

This looks like another terrifying week Bitcoin investors will have to suffer through. The price of the biggest cryptocurrency has been in a tailspin in the last couple of days. After the bulls could not breach the resistance of $11 780 on Monday, a sharp selloff dragged BTCUSD to as low as $9 450 by…

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Litecoin Bulls Searching for Fibonacci Support

Litecoin, the fifth largest cryptocurrency by market cap, reached its all-time high in mid-December, 2017, accompanied by most other virtual tokens, including the biggest one in the face of Bitcoin. The following crash, which erased almost 70% of Bitcoin’s market cap, wiped out over 71% of Litecoin’s capitalization after the price dropped from over $370…

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Ahead of Facebook’s Crypto-Ban and Bitcoin’s Plunge

The hottest investment of 2017 has been the worst one in 2018 so far. Bitcoin, still the largest cryptocurrency by market cap out there, is down by over 50% from its $19 666 all-time high in December, after losing more than 30% in January alone. February starts in a similar fashion – with a 750-dollar…

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Dash Crashed Right On Schedule. What’s Next?

This week’s crash in the price of Bitcoin dragged virtually all other cryptocurrencies down with it. The total capitalization of the entire crypto market was down by almost $400 billion at one point on January 17th. Dash, currently the eleventh largest virtual currency, was no exception, falling from a high of $1247 to as low…

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Bitcoin Bloodbath Was Ten Days in the Making

So far, 2018 is definitely not what crypto investors were hoping for. The entire cryptocurrency market crashed yesterday as each coin lost between 15% and 40% of its market capitalization. Bitcoin, the biggest virtual currency out there, could not escape the bloodbath, as well. BTCUSD fell to an intraday low of $10 162 for a…

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Ripple’s Rally Still Has Room to Run

Ripple, the only major cryptocurrency that is centralized, briefly became the second largest after Bitcoin, after its price rose from below 20 cents a coin on December 8th, 2017, to over $3.31 by January 4th, 2018. As of this writing, it has been surpassed by Ethereum again, but it still maintains a total market capitalization…

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